Kotak Mahindra Bank Report For Jamshed Ali

Service Charges of Kotak Mahindra Bank
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INDUSTRY PROFILE
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Early History of Banking

As early as 2000 B.C., the Babylonians had developed a banking system. There are evidences by the archeological department to show that the temples of Babylon were used as banks. After a period of time, there was a spread of irreligion, which soon destroyed the public sense of security in depositing money and valuable in temples. The priests were longer acting as financial agents. The Romans did minute regulations, as to conduct private banking and to create confidence in it. Loan banks had also become common in Rome. From these Banks the poor citizens received loans without paying interest, against security of land for 3 or 4 years. During the early periods, although private individuals mostly did the banking business, many countries established public banks either for the purpose of facilitating commerce or to serve the government. However, upon the revival of civilization, the growing necessity forced the issue in the middle of the 12th century and banks were established at Venice and Genoa. The Bank of Venice established in 1157 is supposed to be the most ancient bank. Originally, it was not a bank in the modern sense, but simply an office for the transfer of the public debt. Again the origin of modern banking may be traced to the money dealers in Florence, who received money on deposit, and were lenders of money in the 14 th century and thereafter in 1349, the business of banking being carried on by drapers of Barcelona. In India, as early as the Vedic Period, banking, in its most crude form, existed. The books of Manu contain references regarding deposits, pledges, policy of loans, and rate of interest. However, banking in those days largely meant money lending and people did not know the complicated mechanism of modern banking. This is true, not only in the case of India, but also for other countries. Although, the business of banking is as old as authentic history, banking institutions have, since then Deep IET Rithoda Page No. 3
changed substantially, in character and content. They have developed, from a few simple operations involving the satisfaction of a few individual wants, to the complicated mechanism of modern banking, involving the satisfaction of the common masses as well as the corporate world and thus providing the very life blood of commerce.
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THE ORIGIN OF WORD BANK

The word 'Bank' itself is derived from the French word 'Bancus' or 'Banque'. However, there are opinions that the word 'Bank' is originally derived from the German word 'Back' meaning joint, which was Italianized into 'Banco'. Status Wise Bifurcation of Banks:Scheduled Banks. Non-Scheduled Banks.
SCHEDULED BANKS: In the first schedule, Government of India notifies the Primary Banks, which are licensed and whose demand and time liability are not less than Rs. 50 crores, in 1987. The Government of India notifies the Primary banks, which are licensed and whose demand and time liability are not less than Rs. 100 crores can only qualify to be included in the second schedule since 1993. A bank becomes scheduled when it fulfils the followings: - 'A' grade rating from RBI - Demand and Time Liability over 100 Crores - Satisfies the RBI guidelines related to CRR and SLR
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Merits of Being a Scheduled co-operative are described below: - The RBI would provide Re-discounting facility at nominal rate - The RBI gives remittance facility at par The demerit of being a scheduled co-operative bank is that the bank will not get subsidy @ 0.5% from the RBI. The conferment of the scheduled status of the banks has certain advantages like refinance facility, direct industrial finance from The Reserve Bank of India, availing The Reserve Bank of India Remittance facility scheme, acceptance of deposits from local bodies, quasi-government organization, religious, and charitable institutions, guarantees and cheques issued by Banks being accepted by Government Departments. At the same time, it casts greater responsibility for the banks in the maintenance of books of accounts and submission of returns. NON-SCHEDULED BANK: The banks, which are not applicable as per the criteria of Scheduled Banks, are called Non-scheduled Banks. These are very small banks.
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TYPES OF BANKS: Deep IET Rithoda Page No. 7
Reserve Bank of India Nationalized Bank State Bank Group Co-operative Bank Private Bank Foreign Bank Regional Rural Banks
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RESERVE BANK OF INDIA

The Hilton-young commission, appointed in 1926, has recommended the necessity of a centrally empowered institution, to have an effective control over the currency and financial transactions in the country. Accordingly, the Government had then passed Reserve Bank of India Act, 1934 and established the Reserve Bank of India with effect from 1 st April 1935. The principle aim behind this was to organize proper control over the currency management in the interest of country benefits and to maintain financial stability. With this, the RBI mainly looks after the following important functions:
FUNCTIONS OF RBI:a. b. c. d. e. To keep effective control over creation of credits and currency supply. To control the Banking transactions of Central and State Governments. To act as Central Administrative Authority of all other Banks in the Country. To organize control over Foreign Currency Transaction. To assist for improvement in financial aspects of the country.
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2.
NATIONALIZE BANKS: -
The Banking Company Act was established in July, 1969, by the nationalization of 14 major banks of India. The cent percent ownership of these banks is with the Government of India.
3. STATE BANK GROUP: The State Bank of India was established under the State Bank of India Act, 1955, and the subsidiary banks were established under the State Bank of India (subsidiary Banks) Act, 1959. The Reserve Bank of India owns the State Bank of India, to a large extent, and the rest of the part is of private ownership in the share capital of State Bank of India. The State Bank of India owns the subsidiary Bank.
4. PRIVATE BANKS: These banks are registered under The Companys Act, 1956. Basic difference between cooperative banks and private banks is its aim. Co-operative banks work for its member and private banks work for earn profit. The newly formed Private Banks have lead the market of Indian banking business in a very short period, because of the variety of services provided, the approach of handling the customers requirements, long working hours and the speed of executing the services. They are also registered under the Companys Act, 1956.
5. FOREIGN BANKS:
Foreign Bank means multi-countries bank. In case of India, Foreign Banks are such Banks that open its branch office in India and their head office remains outside India. Deep IET Rithoda Page No. 10
6.
REGIONAL RURAL BANKS (RRB): -
Regional Rural Banks have been included in the Indian Banking Sector since October, 1975. The Government of India in terms of the provision of the Regional Rural Bank Act, 1976, has established these banks. The distinctive feature of the Regional Rural Bank is that though it is a separate body, it is corporate with the Commercial Bank, which has sponsored the proposal to establish it. The Central Government, while establishing a Regional Rural Bank, at the request of a Commercial Bank, shall specify the local limits within which it shall operate. The Regional Rural Bank may establish its branches or agencies at any place within the notified area. For example: The State Bank of Saurashtra sponsors Regional Rural Banks in Saurashtra.
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COMPANY PROFILE
COMPANY PROFILE
Kotak Mahindra is one of Indias leading financial institutions, offering complete financial solutions that encompass every sphere of life. From Retail Finance to stock Broking, Mutual Funds to Life insurance and investment banking, the company caters to the financial needs of the individual and the corporate world simultaneously. Kotak Mahindra has a consolidated net worth of over INR 1,500 crores and currently employs over 1,500 dedicated professionals in its various businesses. With a presence in over 40 locations in India and with offices in New York, London, Dubai, and Mauritius, the group currently services for over 5,00,000 customers. Kotak Mahindra has international partnerships with Goldman Sachs (The world's leading investment bank and brokerage firm), Ford Credit (The world's largest dedicated automobile financiers) and Old Mutual (A leading insurance, Banking and asset management conglomerate).
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FACTS & FIGURES

Q4 FY200 TOTAL INCOME PROFIT BEFORE TAX PROFIT AFTER TAX EPS (Rs.) (Rs. In Crores) Consolidated income crosses Rs. 1,000 Crores. Consolidated total advances portfolio grew by 53% during FY-2004 to Rs. 4,609 Crores. Portfolio of passenger cars crossed the Rs. 2,200 Crores mark and commercial vehicles portfolio was over Rs. 1,200 crores. Consolidated net NPAs as on March 31 st, 2004, were at Rs. 64 Crores constituting 0.14% of net advances. Consolidated book value per share as March 31 st, 2004, was Rs. 207(Rs. 178 as on March 31st, 2003). Consolidated earnings per share (diluted) for FY-2004 were Rs. 29.05 as against Rs. 12.38 in FY-2003. DILUTED 4 394. 73 114. 05 62.2 0 10.3 5 Q3 FY200 3 190. 72 20.1 8 9.16 1.55 GROW TH (IN %) 107% 465% 579% 568% 1,167 .74 331.0 8 174.4 4 29.05 FY2004 FY200 3 711. 00 141. 96 73.3 2 12.3 8 GROWT H (IN %) 64% 133% 138% 135%
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JOGRNEY SO FAR
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JOURNEY SO FAR
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KEY GROUP COMPANIES

KOTAK MAHINDRA BANK:The Kotak Mahindra Groups flagship company, Kotak Mahindra Finance Ltd., which was established in the year 1985, was converted into a bank - KOTAK MAHINDRA BANK LTD., in March, 2003, becoming the first Indian company to get converted into a bank. Its banking operations offer a central platform for customer relationships across the groups various businesses. The bank has a presence in the Commercial Vehicles, Retail Finance, Corporate Banking and Treasury and has recently entered the Housing Finance segment.
KOTAK MAHINDRA CAPITAL COMPANY:Kotak Mahindra Capital Company Limited (KMCC), India's premier Investment Bank and a Primary Dealer (PD) approved by the RBI, is a strategic Joint Venture between Kotak Mahindra Bank Limited and the Goldman Sachs Group, LLP. KMCC's core business areas include Equity Issuances, Mergers & Acquisitions, Structured Finance and Advisory Services, Fixed Income Securities and Principal Business.
KOTAK SECURITIES:-
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Service Charges of Kotak Mahindra Bank Kotak Securities Ltd., a strategic Joint Venture between Kotak Mahindra Bank Limited and the Goldman Sachs Group, LLP., is one of India's largest brokerage and securities distribution house in India. Over the years Kotak Securities has been one of the leading investment broking houses catering to the needs of both institutional and retails investor categories with presence all over the country through franchisees and co-ordinators. Kotak Street - the retail arm of Kotak Securities Ltd., offers online (through www.kotakstreet.com) and offline services well-researched expertise and financial products to the retail investors.
KOTAK MAHINDRA PRIME:Kotak Mahindra Primus Limited (KMP), is a Joint Venture between Kotak Mahindra Bank Ltd and Ford Credit International Inc.,(USA), formed to finance all non-Ford passenger vehicles. KMP is one of the country's leading players in car finance and is focused to financing and supporting automotive and automotive related manufacturers, dealers and retail customers.
KOTAK
MAHINDRA
ASSET
MANAGEMENT
COMPANY:Kotak Mahindra Asset Management Company (KMAMC), a subsidiary of Kotak Mahindra Bank, is the asset manager for Kotak Mahindra Mutual Fund (KMMF). KMMF manages funds in excess of Rs. 4,000 crores and offers schemes catering to investors with varying risk- return profiles. It was the first fund house in the country to launch a dedicated gilt scheme investing only in government securities.
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Service Charges of Kotak Mahindra Bank Kotak Mahindra Old Mutual Life Insurance Ltd. is a joint venture between Kotak Mahindra Bank Ltd. and Old Mutual plc. Kotak Life Insurance helps customers to take important financial decisions at every stage in life by offering them a wide range of innovative life insurance products, to make them financially independent.
Kotak Mahindra's distinguished track record has made it India's first ever company to be converted into a bank.
Creating history Established in 1984, The Kotak Mahindra group has long been one of India's most reputed financial organizations. In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company was given the license to carry on banking business by the Reserve Bank of India (RBI). This approval creates banking history since Kotak Mahindra Finance company in India to convert to a bank. Ltd. is the first
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BOARD OF DIRECTORS
MR. K. M. GHERDA MR. UDAY KOTAK
CHAIRMAN EXECUTIVE DIRECTOR
VICE
CHAIRMAN AND MANAGING MR. ANAND MAHINDRA MR. CYRIL SHROFF MR. PRADEEP KOTAK DR. SHANKAR ACHARYA MR. SHIVAJI DAM MR. AJAY SONDHI MR. C. JAYARAM MR. DIPAK GUPTA MS. BINA CHANDARANA EXECUTIVE DIRECTOR EXECUTIVE DIRECTOR SECRETARY AND SENIOR VICE PRESIDENT
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ORGANIZATIONAL CHART
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RETAIL BANKING
The Kotak Mahindra Bank offers complete solutions that cater and address all the financial requirements, whether of an individual or a firm. From everyday banking to long term investments, its varied services cover it all. This wide range of products is delivered to the customers with a genuine understanding of their specific needs and warm, personalized customer services. Following are the various products offered by the bank along with its brief descriptions. Deposits:
Savings A/c: -
OVERVIEW: No matter what the customers banking needs are, Kotak Mahindra Bank has an offer that's just right for everyone. The savings accounts offer you attractive returns with personalized banking services. A variety of products offered are, Kotak Edge Savings Account, Kotak Pro Savings Account and Kotak Ace Savings Account. Each product is feature packed ranging from Free Home Banking, Free Access to 6000+ ATMs, Free DDs, Free at -Par Cheque Facility to Free Trading Account & Free Demat Account. The customer can choose the one that suits him the most from the following: -
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KOTAK EDGE SAVINGS A/C.: The customer needs a savings avenue that makes the most of his hard-earned money. The Bank offers him the Kotak Edge Savings Account, armed with Kotak 2-Way Sweep and their entire gamut of Banking Privileges. The feature rich Kotak Edge Savings Account is the ideal way to make money work harder. Features: Key Benefits: Attractive Returns: - The Kotak Edge Savings Account combines liquidity of a Savings Account with the attractive returns of a Term Deposit through the unique Kotak
2-Way Sweep benefit.
Kotak Advantages: - The Kotak Edge Savings account offers various advantages such as, Free Home Banking , Free At-par Cheques , Free Cheque Collection and Free Electronic Fund Transfer
.
-
Convenience
Banking:
The Kotak Edge Savings offers the benefits of
Account
also
convenience banking such as Global Debit Card, Phone Banking, Net Banking, Home Banking, Mobile Banking and Alerts.
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RESEARCH METHODOLOGY
Research Methodology is a way to systematically solve the research problems. Following steps have to be taken to obtain a correct result. 1. Define Research problem clearly 2. Formulate Hypothesis 3. Develop Research design 4. Collect Data 5. Analysis of Data 6. Interpret and Report These steps were not fully followed in this study as the research was not numerically inclined and was not based on primary data. In this final project the topic is related to the Marketing Research and analysis. The study of my research is descriptive and is related to the motorcycle industry. This is the topic, which falls under market leadership, competition, strategies and other policies of motorcycle Industry. As my study was more focused on the strategic position of the key players in the industry, the data was collected primarily through secondary source. Though some dealers and showrooms were informally visited, and some information was collected through an unstructured interview.
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METHODOLOGY USED
1. Research Design The project was designed to be a Descriptive Research, because the study required an in depth. 2. Data collection Method The basis of this project is the information collected through Secondary data. In order to get the view of those related in this market, some dealers and showrooms were informally visited. 3. Data Source All the information was primarily collected through Business Magazines, Newspaper cuttings, Internet sites. The structure of this research was decided while keeping readers in mind. It is an attempt to put forward my study in easy and simple language.
RESEARCH DESIGN
TYPE OF RESEARCH: - DESCRIPTIVE RESEARCH Descriptive research includes Surveys and fact-finding enquiries of different kinds. The main characteristic of this method is that the researcher has no control over the variables; he can only report what has happened or what is happening.
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DATA SOURCES There are two types of data. PRIMARY DATA The data that is collected first hand by someone specifically for the purpose of facilitating the study is known as primary data. So in this research the data is collected from respondents through questionnaire. SECONDARY DATA For the company information I had used secondary data like brochures, web site of the company etc. The Method used by me is Survey Method as the research done is Descriptive Research. RESEARCH INSTRUMENTS Selected instrument for Data Collection for Survey is Questionnaire.
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SERVICE CHARGES
Personalized At-par Cheque Free Quarterly free Free for 1st year Rs 25,000 per day
Book Account Statement Global Debit Card Global Debit Card Usage Limits ATM Cash withdrawal - Merchant Establishment ATM Usage
Rs 25,000 per day Free in all Kotak Mahindra Bank & UTI Bank ATMs Rs. 25 for cash withdrawal from other banks domestic VISA ATMs Rs. 15 for balance enquiry in other banks domestic VISA ATMs Rs. 90 for cash withdrawal from international VISA ATMs Rs. 15 for balance enquiry in international VISA ATMs
Cheque -
Collection Branch
Charges Locations Free Rs. 2.50/1000 (minimum Rs. 50) Rs. 2.50/1000 (minimum Rs. 50)
- Non-Branch Locations Demand Draft Charges
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Service Charges of Kotak Mahindra Bank Home Banking One request free per day
- Cash pickup/delivery (Above Rs. 5,000 and up to Rs. 2 Lacs) Cheque/Instrument -
One request free per day
pickup/delivery
KOTAK PRO SAVINGS A/C: Overview: The customers need a savings avenue that makes the most of their hard-earned money. The bank offers them the Kotak Pro Savings Account, armed with Kotak 2-Way Sweep, as well as an entire gamut of Banking Privileges and user-friendly Convenience Banking facilities. The feature rich Kotak Pro Savings Account is the ideal way to make money work harder.
FEATURES
:-
Key Benefits: Attractive Returns: - Kotak Pro Savings Account combines liquidity of a Savings Account with the attractive returns of a Term Deposit through the unique Kotak 2-Way Sweep benefit. Kotak Advantages: - The Kotak Edge Savings account offers various advantages such as, Free Home Banking , Free At-par Cheques , Free Cheque Collection, Free Demand Drafts and Free Electronic Fund Transfer
Pro Privileges: - The Kotak Edge Savings Account also offers some privileges such as, family savings account and free at-home services.
Convenience Banking: -The Kotak Edge Savings Account also offers the benefits of convenience banking such as Global Debit Card, Phone Banking, Net Banking, Home Banking, Mobile Banking and Alerts.
SERVICE CHARGES: Personalized At-par Cheque Book Account Statement Global Debit Card Global Debit Card Limits - ATM Cash withdrawal - Merchant Establishment ATM Usage Free Quarterly free Free for 1st year Usage Rs 25,000 per day Rs 25,000 per day Free in all Kotak Mahindra Bank & UTI Bank ATMs Rs. 25 for cash withdrawal from other banks domestic VISA ATMs Rs. 15 for balance enquiry in other banks domestic VISA ATMs Rs. 90 for cash withdrawal from international VISA ATMs Rs. 15 for balance enquiry in international VISA ATMs Cheque Collection Branch Charges Locations Free Rs. 2.50/1000 (minimum Rs. 50) Rs. 2.50/1000 (minimum Rs. 50) Page No. 33
- Non-Branch Locations Demand Draft Charges Deep IET Rithoda
Service Charges of Kotak Mahindra Bank Home Rs. Cash 2 Banking pickup/delivery Lacs) One request free per day
(Above Rs. 5,000 and up to One request free per day Cheque/Instrument
pickup/delivery
KOTAK ACE SAVINGS A/C: Overview: The customers need a savings avenue that makes the most of their hard-earned money. The bank offers them the Kotak Ace Savings Account, armed with Kotak 2-Way Sweep, as well as an entire gamut of Banking Privileges and user-friendly Convenience Banking facilities. The feature rich Kotak Ace Savings Account is the ideal way to make money work harder. FEATURES: Key Benefits: Attractive Returns: - Kotak Ace Savings Account combines liquidity of a Savings Account with the attractive returns of a Term Deposit through the unique Kotak
2-Way Sweep
benefit.
Kotak Advantages: The Kotak Ace Savings account offers various advantages such as,
Free
Home Banking, Free At-par Cheques, Free Cheque

Collection,
Free
at-home
services,
Free
Demand Drafts and Free Electronic Fund Transfer
Ace Privileges: -The Kotak Ace Savings Account also offers some privileges such as, family savings account and free Demat account, free investment account, free trading account and personal investment advisor Convenience Banking: The Kotak Ace Savings Account also offers the benefits of convenience banking such as Global Debit Card, Phone Banking, Net Banking, Home Banking, Mobile Banking and Alerts. SERVICE CHARGES:-
Personalized
At-par
Cheque
Free Monthly free Free for life Rs 75,000 per day
Book (pre-carbonated) Account Statement Global Debit Card Global Debit Card Usage Limits ATM Cash withdrawal - Merchant Establishment ATM Usage Cheque Collection Branch Charges Locations
Rs 50,000 per day Free in all domestic and international VISA ATMs Free Charged Free (up to DDs of Rs. 30 lacs p.a.)
- Non-Branch Locations Demand Draft Charges Home Banking
- Cash pickup/delivery (Above Rs. 5,000 and up to Rs. 2 Lacs) Deep IET Rithoda
One request free per day One request free per day Page No. 35
Service Charges of Kotak Mahindra Bank Cheque/Draft -
pickup/delivery
CURRENT A/C: Overview: Kotak Mahindra Bank offers unparalleled advantages with its three Current Account offerings. Whether the customer has a small/ mid size business or an enterprise, spread across multiple locations in the country, he would find a Current Account that's just designed for him. With features ranging from Free Home Banking, Free DDs, Free Cheque Collection, Free At -Par Cheque facility to Free Trading Account & free Demat Account, you can choose from any of Kotak Edge Current Account, Kotak Pro Current Account and Kotak Ace Current Account.
KOTAK EDGE CURRENT A/C.: OVERVIEW: The customers need a well equipped bank account to keep pace with in all your business endeavors. The bank offers the Kotak Edge Current Account, armed with Kotak 2-Way Sweep and an entire gamut of Banking Privileges, providing that extra edge to get ahead. The feature rich Kotak Edge Current Account is the ideal way to make money work harder.
Features:
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Service Charges of Kotak Mahindra Bank KEY BENEFITS: Attractive Returns: - The Kotak Edge Current Account combines liquidity of a Current Account with the attractive returns of a Term Deposit through the unique Kotak 2-Way Sweep benefit. Business Advantages: - The Kotak Edge Current account offers various business advantages such as, Free Home Banking, Free At-par Cheques, overdraft against Term Deposit, Free Demand Drafts and Free Electronic Fund Transfer Convenience Banking: -The Kotak Edge Current Account also offers the benefits of convenience banking such as Global Debit Card, Phone Banking, Net Banking, At- home services, Mobile Banking and Alerts.
SERVICE
CHARGES:First Cheque Book Free (Normal); Rs. 100 per Cheque Book (50 leaves) for subsequent Cheque Books (Normal); Rs. 200 per Cheque Book (50 leaves) for subsequent Cheque Books (At-par)
Personalized Cheque book
Account Statement Cheque Collection Charges (non home branch) Demand Draft Charges Deep IET Rithoda
Monthly free Rs. 2.50/1000 (Minimum Rs. 50)
Free Page No. 37
Service Charges of Kotak Mahindra Bank locations Non Branch locations Home Banking pickup delivery Cash - Rs. 500 p.m. pickup/delivery (Above Rs. 5,000 and up to Rs. 2 Lacs) Daily instrument/cheque pickup (Beat) Global Debit Card Global Debit Card Usage ATM withdrawal Merchant Free in all Kotak Mahindra Bank & UTI Bank ATMs Rs. 25 for cash withdrawal from other banks domestic VISA ATMs Rs. 15 for balance enquiry in other banks domestic VISA ATMs Rs. 90 for cash international VISA ATMs withdrawal from Establishment ATM Usage Limits Cash Free for 1st year Rs 25,000 per day Instrument Instrument Rs. Rs. Rs. 25 25 100 Branch - Rs. 2.50/1000 (Minimum Rs. 50)
- Rs 25,000 per day
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Service Charges of Kotak Mahindra Bank Rs. 15 for balance enquiry in international VISA ATMs
Kotak Pro Current Account: OVERVIEW: The customers need a well equipped bank account to keep pace with in all your business endeavors. The bank offers the Kotak Pro Current Account, armed with Kotak 2-Way Sweep and an entire gamut of Banking Privileges, providing that extra edge to get ahead. The feature rich Kotak Pro Current Account is the ideal way to make money work harder. features:
KEY BENEFITS: Attractive Returns: The Kotak Pro Current Account combines liquidity of a Current Account with the attractive returns of a Term Deposit through the unique Kotak 2-Way Sweep benefit. Business Advantages: - The Kotak Pro Current account offers various business advantages such as, Free Home Banking, Free At-par Cheques, Free cheque collection, Free Demand Drafts and Free Electronic Fund Transfer. Pro Privileges:The Kotak Pro Current Account also offers its customers certain privileges such as, Family Savings A/c, Free Cheque- pickup, Free at-home services, Convenience Banking: Deep IET Rithoda
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Service Charges of Kotak Mahindra Bank The Kotak Pro Current Account also offers the benefits of convenience banking such as Global Debit Card, Phone Banking, Net Banking, Mobile Banking and Alerts.
SERVICE CHARGES:Personalized Cheque Book At-par (preMonthly free locations FreeFree
carbonated) Account Statement Cheque Collection Charges Branch - Non Branch locations Demand Draft Charges Branch locations
- Rs. 2.50/1000 (Minimum Rs. 50)
month)
Free-
- Non Branch locations Home Banking pickup
- Free (up to DDs of Rs. 5 lacs per
Instrument
One One One
request request request
free free free
per per per
day day day
- Instrument delivery - Cash pickup/delivery (Above Rs. 5,000 and up to Rs. 2 Lacs)
- Free
- Daily instrument & document pickup (Beat) Global Debit Card Global Debit Card Usage Deep IET Rithoda ATM withdrawal Merchant Page No. 40 Limits Cash Free for 1st year Rs 25,000 per day
Rs 25,000 per day
Service Charges of Kotak Mahindra Bank Establishment ATM Usage Free in all domestic VISA ATMs Rs. 90 for cash withdrawal from international VISA ATMs Rs. 15 for balance enquiry in international VISA ATMs
Kotak Ace Current Account: OVERVIEW: The customers need a well equipped bank account to keep pace with in all your business endeavors. The bank offers the Kotak Ace Current Account, armed with Kotak 2-Way Sweep and an entire gamut of Banking Privileges, providing that extra edge to get ahead. The feature rich Kotak Ace Current Account is the ideal way to make money work harder. Features:
KEY BENEFITS: Attractive Returns: The Kotak Ace Current Account combines liquidity of a Current Account with the attractive returns of a Term Deposit through the unique Kotak 2-Way Sweep benefit.
Business Advantages: The Kotak Ace Current account offers various business advantages such as, Free Home Banking, Free At-par Cheques, Free cheque collection, Free Demand Drafts, Free Electronic Fund Transfer and overdraft against Term Deposit. Deep IET Rithoda Page No. 41
Service Charges of Kotak Mahindra Bank Ace Privileges: The Kotak Ace Current Account also offers its customers some privileges such as, Free Demat Account, Family Savings Account, Free Cheque- pickup, Free Investment Account and personal Investment Advisor. Convenience Banking: The Kotak Ace Current Account also offers the benefits of convenience banking such as Global Debit Card, Phone Banking, Net Banking, At-home Services, Mobile Banking and Alerts.
SERVICE CHARGES:Personalized At-par Cheque Book (pre-carbonated) Account Statement Cheque Collection Charges Branch locations - Non Branch locations Demand Draft Charges locations Free- Free (up to DDs of Rs. 30 lacs per month)) Home Rs. Daily Banking Instrument Instrument Cash 2 pickup delivery - One request free per day - One request free per day - One request free per day - Free Free Monthly free 50) Branch Free-
- Re. 1/1000 (Minimum Rs.
- Non Branch locations
pickup/delivery Lacs) &
(Above Rs. 5,000 and up to instrument
document pickup (Beat) Global Debit Card Deep IET Rithoda
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Service Charges of Kotak Mahindra Bank Global Limits - ATM Cash withdrawal - Merchant Establishment ATM Usage Debit Card Usage Rs 25,000 per day Rs 25,000 per day Free in all domestic & international VISA ATMs
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TERM DEPOSIT: OVERVIEW :
Kotak Mahindra Bank brings you Term Deposit (TD) at highly attractive interest rates coupled with special facilities like Overdraft (OD), Re-investment option etc. What's more, with no penalty for premature withdrawal, you have maximum liquidity available on your TDs. Key Features: Tenure: Wide range of Term Deposit tenures from 7 days to 5 years. Amount: - Minimum Term Deposit amount for new customers: Rs 25,000 and for existing relationships: Rs. 10,000 Scheme: Choose the Re-Investment option to get interest on interest or seek simple interest option to get interest at regular intervals. Overdraft: Avail
Overdraft facility of up to 85% of the principal
amount on the TD of over 181 days.
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INTEREST RATES: Term Deposit rates effective from 1st Dec, 2005 (subject to change from time to time) Maturity periods Less than Rs.15 lacs Senior Citize n Less Than Rs 15 lakhs Rs.15 lacs and above but below Rs.1 crore Senior Citize n 15 Lacs & Above But Below Rs 7-14 days 15-30 days 31-45 days 46-90 days 91-180 days 181 days to less than1 year Deep IET Rithoda Page No. 45 No Quote 4.75 % 5.00 % 5.50 % 5.75 % 6.00 % 4.75% 5.00% 5.25% 5.75% 6.00% 6.25% 4.75 % 5.00 % 5.25 % 5.50 % 5.75 % 6.00 % 1 5.25 % 5.40 % 5.60 % 5.75 % 5.90 % 6.25 % 5.25% 5.40% 5.60% 5.75% 5.90% 6.75% crore 5.00% 5.25% 5.50% 5.75% 6.00% 6.25% Rs Rs.1 crore and above but below Rs.5 crores Greater than or equal to Rs.5 crores
Service Charges of Kotak Mahindra Bank 1 and above but less than 2 6.50 % 6.75% 6.50 % 6.75% 6.50 % 6.75% years 2 years and above but less than 3 6.75 % 7.00% 6.75 % 7.00% 6.75 % 6.75% years 3 years and above upto and inclusiv e of 5 Years Greater than years 5 No Quote No Quote No Quote No Quote No Quote No Quote year 6.50 % 6.75% 6.50 % 6.75% 6.50 % 6.75%
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ACCOUNT PROFILE:
EDGE
PRO
ACE
SAVINGS a/c
Rs. 10,000
Rs. 20,000
Rs. 75,000
CURRENT a/c
Rs. 25,000
Rs. 50,000
Rs. 25,000
INVESTMENT SERVICES
OVERVIEW :
The Kotak Mahindra Bank recognizes that financial needs vary, not just amongst individuals, but across the different stages of life. Years of experience in helping people are put together in an investment portfolio that works best for the customers. From fixed deposits to insurance, mutual funds to Demat accounts everything is covered. What differentiates them, however, is their emphasis on building enduring relationships. At Kotak Mahindra Bank, it's not about selling many different products it's about working out a holistic, pragmatic solution that addresses the customers financial needs.
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DEMAT: Features
:-
The bank offers streamlined and efficient depository services that allow the customers to hold their shares in convenient, "Demat" formats and leverage opportunities in the stock-market whenever spotted. The Demat services include: Dedicated and trained Customer Care Officer to handle and answer all the queries. Highly competitive service charges. The bank also caters to the debt requirements of companies, including the issue of Commercial Paper, Certificate of Deposits, etc. They also provide a composite Demat account that can hold Equity shares as well as Government Securities, Bonds etc.
CHARGES: Kotak Mahindra Bank, as a Depository Participant with NSDL, caters to a wide cross section of the country's investing population.
They have designed tariff plans that address the needs of all categories of investors in the capital market. At one end, they have a general tariff for clients who do not transact too frequently. At the other end of the spectrum, they have schemes for frequent traders with high transactions. Here again they have differential tariffs for different sub-brokers.
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Mutual Funds: OVERVIEW: Kotak Mahindra Bank also offers services to its customers in the field of mutual funds. Their experienced research team analyses and researches the Mutual Funds available in the market, helping their customers make more informed decisions. Their recommendations take into account all relevant factors including the investment philosophy of the Asset Management Company, portfolio quality, risk-adjusted returns and market trends. The bank provides assistance at every step of the investment process with their unique offerings such as MF Advisor, MF Analyst and MF Reporter.
BANCASSURANCE: OVERVIEW: The Bank offers a range of carefully selected insurance policies across the entire spectrum of life insurance products. The Relationship Managers analyze the customers insurance needs and develop the solution that works best for the same. Kotak Endowment Plan, Kotak Money Back Plan, Kotak Term Plan, Kotak Preferred Term Plan, Kotak Child Advantage Plan, Kotak Retirement Income Plan, Kotak Capital Multiplier Plan, etc. are some of the various services provided by the bank under this segment. CONVENIENCE BANKING Overview: In today's day and age time is money. People work hard and have a busy schedule. Doing their banking should be easy and convenient and not add to their worries. Deep IET Rithoda Page No. 49
The Kotak Mahindra Bank realizes this and have specially tailored a wide range of value added products and services to make their customers money work at its best. These, coupled with the highest standard of customer care will make their life simpler and easier. The bank offers - convenient solutions with a lot of common sense. These include: Net Banking, Phone Banking, Home Banking, ATMs, Global Debit Card, Payment Gateway for Direct Pay and Online Trading, Mobile Banking & Alerts.
Net Banking: Kotak Mahindra Bank's Net Banking service brings the timeless world of instant banking.
This is a quick and easy way to access your deposit, Demat and investment accounts 24 hours a day, 7 days a week. The customers can bank from home, work or anywhere in the world by just connecting to the internet. The customers can get free Net Banking access if they have a savings bank account, a current account, a term deposit, a Demat account or an investment account with Kotak Mahindra Bank.
PHONE BANKING: The bank has a 24Hrs Customer Contact Center to offer you personalized services round the clock. Just pick up the phone and call on 1600 226022. Whether it is something as urgent as a stop payment or you simply want to know your balance just give us a call. Their toll free number gives you access to your account, from anywhere.anytime. Deep IET Rithoda Page No. 50
And what's more, this facility comes to you absolutely free of cost!
HOME BANKING: Call 24Hrs Customer Contact Center and request for a cheque, cash pick up, cash delivery or a draft delivery and the representatives of the bank will come to the customers home or office. After all why should the customer come to the Bank when their Bank comes to them? For all requests received between 10 am and 4 pm Mondays to Saturdays the bank will have their representative meet their customers on the same day. Cheques picked up under Home Delivery service will be sent for clearing on the next working day.
ATM Networks: The Banks strategically located and constantly growing ATM network brings the bank within the customers easy reach. The ATM service is available absolutely FREE. The state of the art touch screen Kotak Mahindra Bank ATMs are part of the Visa/Plus ATM network. That means the customers can withdraw cash from the banks ATM Network with International and Domestic Visa/Visa Electron/Plus Credit Cards/Debit Cards. With their special arrangement with UTI Bank, the customers can use your Kotak Mahindra Bank Global Debit Card at over 1775 UTI Bank ATMs absolutely free.
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GLOBAL DEBIT CARD: Kotak Mahindra Bank Global Debit Card gives its customers the most convenient access to their account any place any time. Now no need to carry cash, just use your Global Debit Card that combines the benefits of a traditional ATM Card - access your account 24 hours to withdraw cash at 16000 ATMs in India and over 1 million worldwide and a Credit Card - get the freedom to make purchases at merchant establishments, without the hassles of carrying cash, or the worry of having to remember to pay monthly bills. The purchase will automatically get debited to the customers account online and will reflect in his statement. Also there is no fear of overspending as the customer can only spend up to the balance available in his account. What's more your Global Debit Card has worldwide acceptance at over 24 million merchant establishments (including over 1.88 lacs in India). The Kotak Mahindra Global Debit Card is available if the customer has a savings bank account, current account or NRE account with the bank. The Kotak Mahindra Global Debit Card comes packaged with a host of value added benefits such as, Fuel Surcharge Waiver, insurance benefits, Add on Cards, etc.
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Mobile Banking and Alerts: Kotak Mahindra Bank's Mobile Banking & Alerts service, enables its customers to access their bank account on their Mobile Phone. Using this service they can access their bank account anywhere, anytime! It is quick and easy, available 24X7 and its absolutely free! They dont have to pay any charge to avail this service. The customers can get Mobile Banking & Alerts service if they have a savings bank account or a current account with Kotak Mahindra Bank. There are a whole range of operations that they can carry out using this service, ranging from checking their account balance, to getting their last 3 transaction details, to requesting for a cheque book, to getting an Alert from the Bank when a large debit or a credit happens to their account. Whats more, they can choose whether to receive Alerts on their mobile phone and / or by email.
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LOANS
PERSONAL LOANS: Their Quick easy personal loans are called "Jaldi loans and range from Rs. 50,000 to Rs. 10,00,000 for salaried individuals, self-employed professionals such as Doctors, C.A.s, Consultants, Architects, Interior Designers and Businessmen.
These loans can be used for anything at all - to renovate your home, for your children's education, to buy a 2 wheeler, go on that well deserved holiday. With Jaldi Loans the bank offers: Minimal paperwork and quick processing ( 1-3 days) Comfortable repayment tenures ranging from 12 to 48 months for salaried individuals and Professionals for self employed businessmen from 12-30 months. HOME FINANCE: Kotak Mahindra Bank offers a variety of features and a range of options flexible enough to fit the home finance needs. The bank helps in the choice of finance that is right for the customers if he: Is Moving Home - When ready to move to a new home, the bank helps him make the right choice. The speed of financing ensures that the customer moves without a hitch Is a First Time Buyer - If he has never bought a home before, his apprehension is understandable. The bank will guide him through the home-buying process and ensure that he gets a Finance thats good value for him, both now and in the future. Needs More Money - The equity of the customers House can be a very effective financial tool he possesses. The bank has finance schemes-designed to utilize that power to create money for anything he may need- building up his home, a marriage in the family or even a holiday.
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MOST IMPORTANT QUALITY IN A BANK
MOST IMPORTANTANT QUALITY IN A BANK
ATMDcor of Bank 0% 12%
Courteous Staff 26%
Efficient service 62%
From the survey of more than hundred respondents belonging to different Banks we can to the conclusion that Efficient Service offered by Banks is considered most important by account holders , 62% of the respondents felt that the Bank should concentrate more on this service aspect. The next aspect which is considered highly important by the Account holders of various Banks is the Staff of the Bank. It is true that todays Banking far less of Branch Banking as it was the case a few years ago , today Account holders have a constant interaction with non-human interface like ATM machines , Internet Banking , Drop Box , Even phone Banking when customers do not interact in a face to face manner with the Bank employees. But in the minds of the respondents it is very important that the Staff the Bank employs should be cooperative, courteous and qualified to solve the various problems of the Account holders. The percentage of respondents favoring Staff quality as most important was 26% of the entire sample size.
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Service Charges of Kotak Mahindra Bank The most frequent point of interaction with the Bank is ATM facility, the Account holders whether in Private/Foreign sector or the Government sector have been provided with ATM facility by their respective Banks. To judge the performance level of any Bank today it is crucial that the ATM service of the Bank be studied, this includes not only the number of ATM machines installed by the Bank , but also how technologically advanced the machines are (number of transaction that can be done with the ATM Facility), the effort Bank undertakes to maintain the machines and also the overall experience of the Account holder with the service. The percentage of respondent considering the ATM service as most important were 12% of the total sample size. But from the respondents who were questioned none of them said that the Dcor/Ambience of the Bank Branch was most important. On further Questioning it was revealed that they did want well-maintained Branches/Other Bank Interaction points but this was not the most important aspect.
PRIVATE BANKS PROVIDE SUPERIOR SERVICES COMPARED TO GOVERNMENT BANKS?
PRIVATE BANKS PROVIDE SUPERIOR SERVICES AS COMPARED TO GOVERNMENT BANKS ?
No 21%
Yes 79%
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Service Charges of Kotak Mahindra Bank The general perception is that the service quality of Private Banks is superior to that offered by Government sector Banks; we wanted to study whether this is a true phenomenon or whether this was just hearsay. The most important findings would come from the group of respondents who hold Saving Accounts with both Private and Government run Banks, as these people would be in the best position to judge the service offered by the Banks. According to this group of respondents the Range of Products that are offered by Private sector Banks are much more diverse than those offered by Government Banks. Also these respondents felt that the Banks in the Private sector were much more flexible than their Government counterparts when dealing with customers were concerned . Private sector Banks are much more proactive when it comes to offering its customers newage methods of Banking like ATM Facility , Internet Banking , Phone Banking, These services make the life of Account holders much easier. Another major difference that comes to most of the respondents minds when comparing the Private and Government sector Banks is the Staff Attitude towards the customers. Sure Private sector Bank Account holders have had problems dealing with Bank Staff, but they still feel it is much better than how Government employees behave. These Government employees show as if they are doing a favoring on the customer when they do their job. Private sector Bank customers are offered many freebies and incentives to remain with the Bank, or try new products of the Bank. This is never the case with Government Banks. Overall the result of this question very clearly states that people consider the service level of Private Banks much higher than Government Banks as 79% of the respondents agree and only 21% of the respondents disagree.
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THE PRESS ROOM

Following are the various extracts of the news items as well as the headlines of the different newspapers and business magazines from time to time during the calendar year 2005: KOTAK MAHINDRA net BANK ANNOUNCES up Bank in BANK up Bank The 3 88% to RESULTS Rs. rapidly major RESULTS Rs. FOR 83.4 in Hotel Mahindra card on her FOR 81.8 in Q3 FY06
Consolidated Open KOTAK Kotak
profit
crore Punjab locations Q2FY06 crore Kanpur Building Bank birthday Q1FY06 crore Delhi
(Mumbai, January 17, 2006) Mahindra branches MAHINDRA net expands more
(November 5, 2005) ANNOUNCES 156% opens Mall, from Kajol Best to Consolidated Kotak profit
(Mumbai, October 27, 2005) Mahindra opens Best Devgan at branch Meghdoot Kotak Compliments Branch Ajay -
(August 22, 2005) Compliments presents MAHINDRA net profit wife
(August 11, 2005) KOTAK BANK for Q1 Bank at BANK FY05 ANNOUNCES FY 06 up RESULTS 51% to FOR Rs. Consolidated Kotak two 46.5 in
(Mumbai, July 26, 2005) Mahindra branches MAHINDRA profit for strengthens Safdarjung and presence Punjabi RESULTS to Rs. Opens Baugh FOR 85 FY05 crore
(June 10, 2005) KOTAK net ANNOUNCES up 8% Bank
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Service Charges of Kotak Mahindra Bank Declares (Mumbai, June 07, 2005) - Kotak Mahindra Group and Ford Credit International Realign Joint Venture (June 1, 2005) Kotak Kotak free Mahindra Mahindra cash Bank Bank at Bank opens pitches office and it third in branch for funds in The transfer Sea Chennai Corporate. facility*" Road (May 7, 2005) "Offers delivery online at 3:2 Bonus
(March 18, 2005) Kotak Mahindra arrives Nepean "Offers Free Cash Delivery at Home and Free Access at all Visa ATM" (March 5, 2005) "Offers Kotak Kotak Cash Mahindra Pick up Bank Bank service to launches the business in in Indore community" Adyar, Chennai
(February 23, 2005) Mahindra commences operations (February 21, 2005) - Kotak Mahindra Bank inaugurates Rajajinagar extension counter in Bangalore (February 16, 2005) KOTAK net Mahindra MAHINDRA profit Bank BANK up opens ANNOUNCES to semi-urban Rs branch Q3 FY05 RESULTS crore Gujarat Bank Kotak 19.10 in
(Mumbai, January 24, 2005) Mehsana, (January 24, 2005)
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OBJECTIVE OF THE STUDY: To study the service charges levied by The Kotak Mahindra Bank and to compare the same with that charged by other privatized and nationalized banks situated in Rajkot.
BANKS COVERED: The Kotak Mahindra Bank The Industrial Development Bank of India (IDBI) The Unit Trust Of India (UTI) The Housing Development Finance Corporation (HDFC) The Union Bank of India
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KOTAK MAHINDRA BANK:
KOTAK Particulars Average Quarterly balance AQB maintenance charges Investment Account Additional account 2 way sweep DD / BC Free None Rs. 50,000 Free & Free 1 family a/c Rs.1,00,00 0 Free & Free 3 family a/c Rs. 5,00,000 Free & Unlimited Free with a capacity of Rs. 30 lacs p.m. 0.1/1000 free 1/1000 non Rs. 500 Rs. 750 Edge Rs. 25,000 Pro Rs. 50,000 Ace Rs. 2,50,000 Rs. 2,500
branch locations DD / BC non branch locations
unlimited 2.5/1000 of min Rs.50
unlimited Free with a capacity of Rs. 5 lacs p.m.) 0.1/1000 free 2.5/1000
EFT 0.1/1000 CHEQUE COLLECTION For branch 2.5/1000 location For non branch locations HOME BANKING Instrument pickup or delivery Cash pick up or Deep IET Rithoda 2.5/1000
Rs. 25 per Instrument Rs. 100
free free
free free Page No. 63
Service Charges of Kotak Mahindra Bank delivery Debit card supplementary card Add on card Daily cash limit (per day) Own ATMs VISA ATMs VISA International ATMs At par cheque Domestic free for 1st year 100 charged 100 1st yr charged 100 1st yr. Rs. 25000 free charged Rs. 25 charged Rs. 90 Rs. 4 per leaf none monthly charged Rs.25 free none none Rs. 1,000 NIL Rs. 100 Rs. 100 Free Free free for 1st year 100 charged charged 100 1st yr. Rs. 25000 free free charged Rs. 90 free yes monthly charged Rs. 25 free none none Rs. 1,000 NIL Rs. 100 Rs. 100 Free free free yes monthly Charged Rs. 25 free yes Rs. 5,00,000 yes Rs. 5,000 NIL Rs. 100 Rs. 100 Free Free Page No. 64 free for 1st year 100 free for 1st year 100 free for 1st year 100 Rs. 75000 free free free
books Pre carbonated cheque books Account Statement Ad hoc statement Demat account Term cover Advisory services Account closure before 6 months After 6 months DD cancellation Stop payment Standing Instructions setup Per instruction Deep IET Rithoda
Service Charges of Kotak Mahindra Bank Pay orders Cheque return Rs. 100 Rs. 100 Rs. 100 Rs. 100 Rs. 100 Rs. 100
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HDFC BANK
HDFC Particulars Average Quarterly AQB balance non Standard Rs.10,000 Rs. 750 per quarter N.A none N.A free charged free free free Trade Rs. 40,000 Rs. 1,200 Plus Rs. 1,00,000 Rs. 1,500 per quarter None free up to Rs. 10 lac Charged Free after Free after
maintenance Investment Additional Account 2 way sweep account DD / BC branch locations DD / BC non branch locations EFT cheque collection for branch location for non branch locations Home banking Instrument pickup or delivery Cash pick up or delivery Debit card supplementary Add on card card Daily cash limit (per day) Own ATMs Deep IET Rithoda
per quarter none free up to Rs. 10 lac charged free Free
4th working free after day 6th working
4th working free after day 6th working Free for one visit daily Rs. 100 per visit Rs. 100 p.a. None None Rs. 50,000 per day Free Page No. 66
N.A N.A Rs. 100 p.a None None Rs. 50,000 per day free
Rs. 500 per month Rs. 500 per month Rs. 100 p.a None None Rs. 50,000 per day Free
Service Charges of Kotak Mahindra Bank VISA Domestic VISA ATMs At par cheque International Pre books carbonated cheque books Account Ad hoc Statement statement Demat account Term cover Advisory Account closure services before 6 months After 6 months DD cancellation Stop payment Standing Instructions set up Per instruction any orders Cheque return issued & return Local Out station Rs. 25 Rs. 50 free N.A. monthly Rs. 1,000 per year free N.A. None Rs. 100 NIL Rs. 50 Rs. 50 Rs. 150 Rs. 25 Rs. 100 Rs. 300 Rs. 50 Rs. 100
free N.A. monthly Rs. 1,000 per year free N.A. None Rs. 100 NIL Rs. 50 Rs. 50 Rs. 150 Rs. 25 Rs. 100 Rs. 300 Rs. 50 Rs. 100
Free N.A. Monthly Rs. 1,000 per year Free N.A. None Rs. 100 NIL Rs. 50 Rs. 50 Rs. 150 Rs. 25 Rs. 100 Rs. 300 Rs. 50 Rs. 100
IDBI BANK
Service Charges of Kotak Mahindra Bank IDBI Basic Rs. Rs, 10,00 500 per None N.A N.A 2.5/10 00 2.5/10 00 1.5/10 00 cheque collection For branch location For non branch 0.25 % + posta 0.40 %
Particular Average s AQB non Quarterly maintena nce Investme Additional nt 2 way account sweep DD / BC branch DD / BC non branch EFT
Speci Rs. al Rs. 50,00 750 per None N.A N.A free 2.0/10 00 free up to Rs. 75 free up to Rs. 0.30 % NO
Bronz Rs. e Rs. 1,00,0 2,500 per None N.A N.A free 2.0/10 00 free up to Rs.1. 50 free up to Rs. 0.30 % NO
Silver Rs. Rs. 30,00 3,000 per None N.A N.A free Free up to Rs. Free up to Rs.3 crores free up to Rs. 0.3001 /
Gold Rs. Rs. 5,00,0 2,000 per None N.A. N.A. free free up to Rs. 30 lacs free up to Rs. 5 crores/ free up to Rs.1 crore 0.30%
locations Home banking Instrumen NO t pick-up NO Rs. None 99 p.a 1st Rs. year 25,00 free 0 or Cash pick up or Debit delivery suppleme card ntary card Add on Daily card cash limit Own (per day) ATMs Deep IET Rithoda
NO
NO
NO Rs. None 99 p.a 1st Rs. year 50,00 free 0
NO Rs. 99 None p.a. 1st Rs. year 50,000 free Page No. 68
Service Charges of Kotak Mahindra Bank VISA VISA Domestic At par Internatio Pre cheque carbonate Account d cheque Ad hoc Statemen statement Demat Term account Advisory cover Rs. Rs. 55 not 125 N.A. availa month Rs.25 ly 0/ FREE quart None N.A. Rs. Rs. 55 free 125 N.A. month Rs.25 ly 0/ FREE quart None N.A. Rs. Rs. 55 free 125 N.A. month Rs.25 ly 0/ FREE quart None N.A. Rs. Rs. 55 free 125 N.A. month Rs.25 ly 0/ FREE quart None N.A.
Rs. 55 free Rs. N.A. monthl 250/ y quarter FREE None N.A.
services Account closure before 6 Rs. months After 6 months DD 500 Nil Rs.
Rs. 500 Nil Rs. 50 Rs. 50 Rs. Rs. 50 Rs. 25 200 Rs. 200 Rs. 50 Rs. 100
Rs. 500 Nil Rs. 50 Rs. 50 Rs. 50 Rs. 25 Rs. 200 Rs. 200 Rs. 50
cancellati 50 Stop Rs. on Standing payment Instructions 50 Setup Rs. Per Rs. 50 Pay Rs. instructio 25 Cheque orders return 200 Issued & returned Deposited & returned Deposited & returned Rs. 200 Rs. 50 Rs. 100
Rs.100
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UTI BANK
Particulars Average Quarterly balance AQB charges Investment Account Additional account 2 way sweep DD / BC branch locations non
UTI Normal Rs.10,0 00 Rs. 250/mo nth No No N.A. Free
Advanta ge Rs. 25,000 Rs. 300/mo nth No No N.A. 1/1000 up month to Rs.5lac/
Classic Rs. 1,00,00 0 Rs. 800/mo nth No No N.A. 0.75/10 00 up to Rs.20la c/ month 2/1000 and min Rs. 25 No Free 0.75/10 00 Rs.30 +
Privileg e Rs. 5,00,00 0 Rs. 1,200/m onth No No N.A. 0.75/10 00 up to Rs.50 lac/ month 1.5/100 0 25 No Free 0.75/10 00 Rs.30 Page No. 70 + and min Rs.
maintenance
DD / BC non branch locations EFT cheque collection for branch location For non branch locations
2/1000 and min Rs.25 No 1.5/100 0 1/1000 + Rs.30 for post
2/1000 min and Rs. 25 No 1.5/100 0 1/1000 + Rs.30 for post
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Service Charges of Kotak Mahindra Bank for post for post Home banking Instrument pickup or delivery Cash pick up or delivery Debit card N.A. N.A. Free two Daily cash limit (per day) Own ATMs At par cheque books Account Statement Ad hoc cards Rs. 55,000 Free 1st free, 1.5/leaf Monthly Rs. 50 Free No No N.A. N.A. free two cards Rs. 55,000 Free 1st free, 1.5/leaf Monthly Rs. 50 Free No No N.A. N.A. free two cards Rs. 70,000 Free 1st free, 1.5/leaf Monthly Rs. 50 Free No No N.A. N.A. free two cards Rs. 75,000 Free 1st free, 1.5/leaf Monthly Rs. 50 Free No No
statement Demat account Term cover Advisory services Account closure before 6
Rs.100
Rs.100 Nil Rs. 100 Rs. 100 Rs. 100 Rs. 20 Rs. 250 Rs. 50 Rs. 100
Rs.100 Nil Rs. 100 Rs. 100 Rs. 100 Rs. 20 Rs. 250 Rs. 50 Rs. 100
Rs.100 Nil Rs. 100 Rs. 100 Rs. 100 Rs. 20 Rs. 250 Rs. 50 Rs. 100 Page No. 71
months after 6 months Nil DD cancellation Rs. 100 Stop payment Rs. 100 Standing Instructions Per instruction Rs. 100 Pay orders Rs. 20 CHEQUE RETURNED Issued & Rs. 250 returned deposited & Rs. 50 Rs. 100
returned (Local) deposited & Deep IET Rithoda
Service Charges of Kotak Mahindra Bank returned station) (Out
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UNION BANK OF INDIA
UNION BANK Particulars Average balance AQB maintenance charges Investment Account Additional account 2 way sweep N.A None Free up to Rs.2 DD / BC for branch locations EFT crores Free 150 DDs of Rs.1 lac DD + Rs.11 per transaction cheque collection For Branch location For non branch See Table 7 Rs. 1.10/1000 N.A N.A See Table 7 Rs. 1.10/1000 N.A N.A See Table 7 Rs. 1.10/1000 N.A. N.A. Page No. 73 N.A None free up to Rs. 1 crore Free DDs 45 of DD + Rs. 11 per transaction N.A. None Rs. 1.10/1000 See table 6 Quarterly non Top tier Mid tier Low segment Rs. 3000 Rs. 827 tier segment Rs. 3000 Rs. 827 segment Rs. 3000 Rs. 827
Rs.20 lac DD + Rs. 11 per transaction
locations Home banking Instrument or delivery cash pick Deep IET Rithoda pick-up up or
Service Charges of Kotak Mahindra Bank delivery Debit card Supplementary card Add on card Daily cash limit (per day) Own ATMs VISA ATMs VISA Domestic International Free No No Rs. 50,000 Free Rs. 10 N.A Rs. 2.20 Free Rs. 10 N.A Rs. 2.20 Free Rs. 10 N.A. Rs. 2.20 per leaf Free Rs. 25 Charged No No Rs. 827 Rs. 22 Rs. 28 Rs. 110 Rs. 22 the of See table 8 collection the of Free No No Free No No
ATMs At par cheque books Account Statement Ad hoc statement Demat account Term cover Advisory services Account closure before 6 months DD cancellation Stop payment Standing Instructions set up per instruction Pay orders Cheque returned
per leaf Free Rs. 25 Charged No No Rs. 827 Rs. 22 Rs. 28 Rs. 110 Rs. 22 See table 8 the of
per leaf Free Rs. 25 Charged No No Rs. 827 Rs. 22 Rs. 28 Rs. 110 Rs. 22 See table 8
collection
collection
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DD BRANCH LOCATIONS:-
Amount of Demand Draft Up to Rs. 500 Rs. 501 to Rs. 1000 Rs.1001 to Rs. 5000 Rs. 5001 to Rs.10000 Rs. 10001 to Rs.10 lacs More than Rs.10 lac. Table 6
Charges (in Rs.) 11 17 22 28 2.5/1000 2.5/1000
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CHEQUE COLLECTION FOR BRANCH LOCATION:-
Amount of cheque Up to Rs. 500 Rs.501 to Rs.1000 Rs.1001 to Rs.5000 Rs.5001 to Rs.10000 Rs.10001 to Rs.1 lac Rs.1 lac to Rs.10 lac More than Rs. 10 lac. Table 7
Charges (In Rs.) 11 17 28 39 4/1000 3.5/1000 3.5/1000
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PAY ORDERS:-
Amount of Pay orders Up to Rs.500 Rs.501 to Rs.1000 Rs.1001 to Rs.5000 Rs.5001 to Rs.1 lac Rs.1 lac to Rs.10 lacs More than Rs.10 lac Table 8
Charges (In Rs) 11 17 22 1.7/1000 0.6/1000 0.6/1000
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- :AVERAGE QUATERLY BALANCE: -
Average Quaterly Balance 600000
500000
400000
300000
200000
100000
Normal
0 Edge Trade Gold Pro Plus Standard Special Bronze Silver Basic Ace
Top Tier
Advantage
Privilege
Mid Tier
Classic
AVERAGE QUARTERLY BALANCE: It is clear from the above presented pictorial graph, that each bank follows the subcategories under the current accounts. The above graph shows that each sub category of the current accounts the graphs of AQBs is increasing but so is not the case with the union bank because the sub categories has been developed by keeping in view the type and the needs of the account holders.
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Low Tier
Service Charges of Kotak Mahindra Bank The Edge account of Kotak follows the AQB of Rs. 10,000 whereas in HDFC; the standard account has AQB of Rs. 5,000 so is with the IDBI and UTI accounts, (i.e. Rs. 5,000 each). The customer will have to maintain the amount almost the double in comparison of the other banks. This would cost him the Opportunity Cost on Rs. 5000 laying in the account, which could be invested elsewhere.
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- :DD FOR BRANCH LOCATIONS: -
DD for Branch Locations (per thousand) 2.5
1.5
0.5
Normal
Top Tier
Standard
Advantage
Privilege
Mid Tier
Trade
Edge
Gold
Pro
Classic
Special
Plus
Bronze
Silver
Basic
Ace
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Low Tier
BRANCH LOCATIONS: The word Branch Location referred to as the bank having branch in the city where the DD is to be payable. The above graph shows that there are no charges levied by Kotak Bank and by IDBI and Union Bank for Branch Locations, but only HDFC Bank and UTI Bank charge for the same. When a branch is located in the concerned city, most of the banks provide the DD or BC free almost in every account, because it becomes easy for the Bank to transfer the rupees from one of their branches to the other branch. For example, DD from the Rajkot Branch of Kotak Bank to its Ahmedabad Branch is easily executable by the bank as it owns branches in both the concerned cities. If in case the Bank has a good number of branches across the Geographical Area, it would be much easier for the account holder.
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- :DD FOR NON-BRANCH LOCATION: -
DD for non branch locations (per thousand)
2.5
1.5
0.5
Normal
Top Tier
Standard
Advantage
Privilege
Mid Tier
0
Edge Trade Gold Pro Special Plus Bronze Silver Basic Ace
Classic
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Low Tier
NON BRANCH LOCATIONS: When the DD is to be executed to any station where the Bank does not have the branch it becomes the matter of concern. When DD is to be executed where the same bank does not have any branch, some charges are levied by almost all the banks for DDs, because the drafts are payable to some other branch in this case. For example, If form the Kotak Bank, Rajkot, a DD is to be payable to Surat, where the bank does not have any branch, the draft is payable to HDFC Bank, Surat and in this case the correspondent bank charges are also levied. For almost every bank, whether privatized or nationalized, in case the DD is to be payable at non branch locations, the charges are levied for the same. Here the two different banks come into the transaction, and because the sender bank has to suffer some transactions dealing with the receiver bank, it becomes necessary to charge up on these transactions. Here Kotak Bank charges the higher amount because the Bank is new into the market and does not have branches in some upcoming cities. It cannot thus enjoy the branch location status.
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- :DD CANCELLATION: -
DD Cancellation Charges
120
100
80
60
40
20
Normal
Top Tier
Standard
Advantage
Privilege
Mid Tier
0
Edge Special Gold Pro Plus Bronze Silver Basic Ace Trade
Classic
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DEMAND DRAFT CANCELLATION: The demand drafts or the Bankers Cheque cancellation is the second important concern in the banking fields. As per the message of the customer, the DD is to be cancelled and in case of cancellation due to inadequate amount or in-operative account, some charges are levied. As far as DD cancellation is concerned, these charges are almost same for Kotak Bank and UTI Bank but these charges are higher than that of HDFC Bank, IDBI Bank and the Union Bank of India. In case of DD of branch locations there would not be much trouble because the same bank would come into picture, but in case of DD cancellation of non branch location two different banks come into the picture and thus the charges of sender and receiver bank are taken.
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- :ACCOUNT CLOSING: -
A/c Closing charges

5500 5000 4500 4000 3500 3000 2500 2000 1500 1000 500 Normal Standard Privilege Top Tier 0 Pro Trade Special Gold Plus Bronze Silver Ace Edge Basic Classic
Advantage
Mid Tier
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Page No. 86
ACCOUNT CLOSING: The account closing is another vital topic from the banks point of view. Almost every bank follows the same procedure of charges levied for the closing of an account. If the Account is to be closed before the completion of 6 months, charges are applied and thereafter no charges are levied. The above graph shows that the charges of closing of an account in Kotak Bank are a bit higher than that of other banks. Forvery account the only difference is in Kotak Mahindra Bank between Ace and other accounts, where it charges the amount of Rs. 5000. The reason behind charging this high amount could be that the Ace account is targeted to the businesses with higher turnovers that can afford these higher charges.
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- :AQB NON-MAINTENANCE: -
AQB Non Maintenance 4000 3500 3000 2500 2000 1500 1000 500 0 Pro Trade Gold Special Plus Standard Bronze Silver Ace Edge Basic
Normal
Advantage
Privilege
Top Tier
Classic
Mid Tier
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Page No. 88
AQB NON MAINTENANCE: AQB Non Maintenance charges are levied when the customer is not able to maintain the minimum Average Balance or fails to keep the amount Operative. The above graph shows that as far as Kotak Bank is concerned AQB Non Maintenance charges are lower as compared to other privatized banks. Here for every other bank, higher AQB Non Maintenance charges are levied, or in other words we can say that the graph goes higher with the account with higher AQB value. When the AQB is not maintained the account becomes inoperative, and thus the banks charge some amount so that the customer keeps the balance adequate and no maintenance charges are incurred.
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- :CHEQUE ISSUED AND RETURNED: -
Charges on Cheque issued and returned 300
250
200
150
100
50
Normal
0 Edge Pro Gold Trade Plus Standard Special Bronze Silver Basic Ace
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Advantage
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Privilege
Classic
CHEQUE ISSUED AND RETURNED: This is another critical issue to be taken into account. A cheque returns due to insufficient amount in the account. When a cheque is issued by a customer and it returns the bank charges on it. As per the above graph, it is very clear that the Kotak Bank charges lesser than the other privatized banks and these charges comparatively are almost half of those charged by other banks. This means that the Bank is liberal in charges for the cheque issued and returned.
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- :CHEQUES DEPOSITED AND RETURNED: -
Charges on Cheques depostied and returned 100 90 80 70 60 50 40 30 20 10 0 Pro Trade Edge Gold Special Plus Standard Bronze Silver Basic Ace
Normal
Deep IET Rithoda
Advantage
Privilege
Classic
Page No. 92
CHEQUES DEPOSITED AND RETURNED: Another critical issue related is when the cheque is deposited into the account and it gets returned. When a cheque is received by the account holder for his payment from the other party, bank charges some amount of money. When a cheque deposited is returned for local clearing the above charges are levied. These charges are higher in case of Kotak Mahindra Bank and the charges are almost double than that of other banks.
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- :VISA AFFILIATED DOMESTIC ATMS: -
VISA-domestic ATMs 60
50
40
30
20
10
Normal
Standard
Advantage
Privilege
Top Tier
0 Pro Trade Special Gold Plus Bronze Silver Ace Edge Basic
Classic
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Mid Tier
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VISA AFFILIATED ATMS: Various Banks have made tie ups with VISA for their ATMs. When a customer is withdrawing his/her money through this ATM the above shown charges are levied. The above given graph presents the analysis on the charges levied by Kotak Bank and other banks in case of Domestic ATMs. It is clear from the graph that the charges charged by Kotak Bank are almost half of the other privatized banks and the charges of Kotak Bank and HDFC Bank are the same. However, the charges of Kotak are higher than Union Bank but lower than that of IDBI Bank and UTI Bank.
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- :VISA AFFILIATED INTERNATIONAL ATMS: -
VISA-International ATMs 140
120
100
80
60
40
20
Normal
0 Edge Pro Trade Special Gold Plus Standard Bronze Silver Basic Ace
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VISA INTERNATIONAL ATMS: For VISA affiliated ATMs situated abroad, those banks which do not have their ATMs in that country but are affiliated with VISA for their ATM facility, the above quoted charges are levied. Here, the charges for Kotak Bank are higher than that of HDFC but they are lower than that of IDBI Bank as well as that of UTI Bank. The Kotak Mahindra Bank does not charge for the current account ACE, as it is for the higher class of customers and thus the facility has been provided for the NRI customers.
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- :CASH WITHDRAWALS: -
Cash Withdraw al Limits 80000 70000 60000 50000 40000 30000 20000 10000 0 Pro Trade Gold Plus Special Standard Bronze Silver Ace Edge Basic
Normal
Advantage
Privilege
Top Tier
Classic
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Low Tier
Mid Tier
CASH WITHDRAWAL LIMITS: Cash withdrawal limits for various banks has been given here through their ATM centers. For very huge businesses, the liquidity or the cash delivery is of great importance. Thus, here the bank which gives more amount of withdrawal is considered to be preferable. As far as Kotak is concerned, the cash withdrawal limit is lesser than that of others. For cash withdrawals the UTI bank is at the top. But as far as the Upper scale current account "ACE" is concerned, the withdrawal limit is almost same as that of highest limit of UTI. Cash Withdrawals through ATMs is also important when the customer has the necessity to encash the money from outstation. Here we can say that in current account ACE, the higher withdrawal limits are pretty good for the convenience of the Higher Class people.
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BRIEF ANALYSIS OF THE STUDY

The bank is liberal in some service charges than that of other banks
which are:International ATM withdrawals, Domestic VISA ATM withdrawals, Cheque return charges, and AQB non maintenance charges. The bank is strict in some charges than that of other private banks
which are:Account closing charges, AQB maintenance charges, Demand Draft cancellation charges The most important is not feature of the by Bank other is banks the as "Home banking" as
facility,
which
provided
successfully
Kotak Bank does. The AQBs of current accounts of Kotak Bank are higher than that of other banks. Kotak Bank provides various investment advisory services apart from
regular banking activities. The target customers of Kotak bank are higher class people i.e.
Doctors, Officers, engineers, etc., Kotak Bank also supports Mutual fund schemes like Franklin
Templeton, Reliance mutual fund, etc.
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LIMITATIONS OF THE STUDY

Every study conducted, in no matter, whatever is the field; by any how has some limitations. During my study of the service charges levied by various banks, I found following difficulties: Deep IET Rithoda Page No. 102
Service Charges of Kotak Mahindra Bank The study is biased from respondent's answers. The cost associated with the study. The time spent for the study.
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CONCLUSION
Based on the findings mentioned above the conclusion is as follows: The ATM withdrawal service of Kotak Mahindra Bank is better than other banks as the charges levied are lower in both Domestic as well as International withdrawals. The bank is also liberal in case of Cheque returned and so the customer can be a bit relaxed in case of a cheque return. In case the AQB is not maintained the bank charges comparatively lower and so it becomes easier to remaintain the AQB without paying higher charges. Kotak Bank levies higher account closing charges but that is only in case the account is operated for 6 months only. Demand Draft cancellation charges are stricter than that of other banks. "Home Banking" is the facility which is far better than that of other banks. The account structure of the Bank is targeted specifically to the higher class society as the charges and the AQBs are higher. IMPORTANT CONCLUSION:1. Kotak Mahindra Bank is Leading Bank in the country, it products and services to different segments of customers. 2. The Bank aims to serve customers from teenagers to senior citizens, hence different products designed to suit specific requirements of the above. 3. Aims to serve all classes of the society from the salaried middle class to the high income business class. Customers are categorized and segmented according to their requirements and needs. Deep IET Rithoda Page No. 105 provides a variety of
Service Charges of Kotak Mahindra Bank For Example, the EDGE Saving Account aims to serve middle class customers so minimum balance required to be maintained is Rs. 10000. While the PRO and ACE Saving Accounts are targeted at high income customers, the minimum balance requirement is Rs. 20000 and Rs. 75000. 4. Customers who are more profitable to the Bank (High Value Customers) are provided special facilities. Priority Banking is meant to serve these high value customers. 5. The Bank prides itself with the ability to provide differentiate products in the crowed market of saving accounts. Bank offers the free home baking, special co-branded debit cards (Smart fill Debit Card) which makes its product unique. 6. The Bank is also involved in marketing activities which serves as a medium of advertisement for the Bank. These are as follows: Extended happy hours at certain pubs in Delhi for the Banks account holders.
Gift Vouchers on making utility payments, such as cell phones, electricity and MTNL bills.
7.
Free Gifts like caps, pens/wollets to its customers.
Free add-on cards for relatives. The Bank wants its customers to transact more through Internet Banking and ATM, Rather than the customers using the branch.
8.
The Debit Cards provided by the Bank are Internationally Accepted around the world, hence giving the customers the convenience to transact anytime, anywhere.
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Service Charges of Kotak Mahindra Bank 9. The Bank has tied up with other Banks so that its customers can use other Banks ATM facility for free transactions 10. The Bank also provides DEMAT account and also sells Mutual Funds, this provides the Bank and Government additional revenue. 11. The Bank has been very successful in enlarging its customer base during the last couple of years. 12. The Number One Reason of people choosing Kotak Mahindra Bank is the Brand Name/Reputation of the Bank. Hence it should be careful that the Brand name and Goodwill the Bank has earned is not diluted. 13. The Biggest competitors of the Bank are ICICI Bank and HDFC Bank and STANDRAD CHARTERED. 14. ATM Facility is most popular way to transact with the Bank. 15. Overall the customers appreciate the service and products offered by the Bank and are willing to recommend the Bank to their acquaintances , But more attention has to paid towards: Increasing the number of ATM machines.
Improving Internet Banking Facility.
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GENERAL FINDINGS
1. ATM Facility is more widely used by customers belonging to Private/Foreign Banks as compared to Government Banks. 2. Customers value Efficient Service over every other aspect, this is far more important than the number of ATM machines, Staff, Dcor of Bank. 3. Reputation of Bank is most important when it comes to choosing especially a Private Bank. 4. The general perception is that Private Banks provides better services as compared to a Government Bank. 5. People realize that Private Banks are as safe as compared to Government Banks. 6. Advertisements and Freebies can be used to attract more customers.
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QUESTIONNAIRE
NAME ___________________________________________ ADDRESS ________________________________________ AGE Below 25 years OCCUPATION Business Professional Service Student Others 3 Lakh to 4.5 Lakh ANNUAL INCOME Less than 1.5 Lakh above 5 Lakh 1. Do you hold a saving account? Yes 2. If yes in which banks. No 1.5 Lakh to 3 Lakh 25 to 40 40 to 55 Above 55 years
3. Out
of
the
above
accounts
which
do
you
use
most
frequently
_________________________
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4. Apart from saving in a bank account where do you invest your money? Land/Property Capital markets (shares, mutual funds, etc) Jewellery Others (please specify)
5. Do you get an ATM/debit card facility from your bank?
Yes
No
6. How many times a week does you use your ATM/Debit Card? Less than 2 time a week 2 to 4 times a week More than 4 time a week 7. What is your most frequent point of interaction with the bank? Visit Branch ATM Phone Banking Drop Box Deep IET Rithoda Page No. 112
Internet Banking 8.Do you believe that Private/Foreign banks provide superior services than nationalized banks? Yes No
9. Do you agree with the view that your money would be safer in a nationalized bank rather than a foreign bank? Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree
10. Are you influenced by advertisements in your choice of bank? Yes No
11. Do additional schemes/benefits (free insurance, free debit card, privileges/discounts on use of debit card, etc.) offered by banks have a bearing on your decision when you open a saving bank account? Yes No
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BIBLIOGRAPHY
BIBLIOGRAPHY To prepare this project report of The comparative study of the service charges of various privatized as well as nationalized banks, I have taken the help of the following resources: Bank Charges Brochures of the following Banks: Kotak Mahindra Bank HDFC Bank Deep IET Rithoda Page No. 115
Service Charges of Kotak Mahindra Bank UTI Bank IDBI Bank Union Bank Of India
Various magazines and newspapers such as Outlook Financial Times The Economic Times The Times of India The Hindustan Times Websites of the following Banks: Kotak Mahindra Bank HDFC Bank UTI Bank IDBI Bank Union Bank Of India Other References Questionnaires, Journals, Broachers and various other documents gathered and collected from bank and various other sources such as ATM centers and associates.
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Page No. 116

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Service Charges of Kotak Mahindra Bank

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